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MERCHANT EXPORTER FAILED TO EXPORT WITHING 90 DAYS AND WANT TO SALE TO LOCAL MARKET

This query is : Resolved 

12 January 2022 Dear sir/ma'am,

We Merchant exporter, purchase the goods under the scheme of 0.1%.on Dec-2021, We have to export withing 90 days but due to covid-19 pandemic We were unable to export within 90 days. Till date we stocked the material. Now in Jan-2021, we fined buyer and want to sale in local market. can we sale on local market. ?

Please advice

12 January 2022 Yes, you can sale in local market.
The registered supplier shall not be eligible for the exemption (i.e. supply at concessional rate) if the registered recipient fails to export the said goods within a period of ninety days from the date of issue of tax invoice.

13 January 2022 sir,

We sold the goods in local market with the normal rate of GST. what consequences faced by us. because we purchase the goods on 0.1% scheme and failed to export. We are unable to give export proofs to registered suppliers from whom we purchase the goods.

Please advice

13 January 2022 You will face no consequence. Your seller has to pay GST at applicable rate and file GSTR. Based on which you can claim ITC. You have to pay revised GST amount to your seller.

13 January 2022 sir We purachse this Good on Dec-2020 and last date of claiming ITC of FY 2020-21 is 30.09.2021. We sold the good to local market on jan-2022.

13 January 2022 In such a case ITC can't be claimed but your supplier has to pay GST at normal rate.



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